Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Securities Finance News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Securities Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. ICMA advances CDM to repo and outright bonds
Industry news

ICMA advances CDM to repo and outright bonds


05 July 2021 UK
Reporter: Bob Currie

Generic business image for news article
Image: Влада Яковенко/adobe.stock.com
The International Capital Markets Association (ICMA) has confirmed that it is working with its technology partner REGnosys, along with the International Securities Lending Association (ISLA) and their respective association members, to extend the Common Domain Model (CDM) for repo transactions and outright bonds.

This comes several days after ISLA said that it has established a ‘minimum viable product’ for securities lending trades and has contributed this into the CDM.

The CDM provides a common data representation of transaction events, offering a common template or set of fields that the industry will use to share trade information and other key data. This is a standardised, machine-readable blueprint for how financial products can be managed across the trade lifecycle.

The ICMA says that its member firms have supported this cross-industry initiative by contributing test data and providing advice through the Association’s CDM Steering Committee.

The working group has concentrated initially on developing a CDM for a standard fixed-term repo using a single security type (ISIN) as collateral. The initial development phase focused on modelling execution, clearing and settlement stages of the transaction lifecycle.

It has also focused on the mapping and capture of FIX 4.4 messaging to the CDM.

This work has been extended beyond repo to an outright bond transaction, enabling the essential data fields required for bond settlement to be represented through the CDM.

ICMA is developing the CDM to provide an unambiguous, digital representation of repo and bond transactions in the form of code. It builds on legal definitions from the Global Master Repurchase Agreement (GMRA) and the ERCC Guide to Best Practice in the European Repo Market.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ ISLA

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ ISLA
→ Collateral
→ Repo

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →